Inflation: An enormous downside for Pakistan Uncertainty inflation in Pakistan, the value of flour is so pricey


Lahore / New Delhi: In Punjab province of Punjab, the official price of wheat has been increased to Rs. 1,375 (Pakistani currency) per mind (40 kg) and the official price of 20 kg flour has gone up to 808 rupees. According to the report of The Express Tribune, the increase in the official price of wheat and flour was approved in a high level meeting held in the Prime Minister's residence on Saturday. According to the report, this new price can be given formal approval by the Punjab cabinet next week, while the government will provide wheat mills at new rates after the festival of Eid.

It was informed in the report that during the meeting Punjab Industries Secretary, Punjab was giving incredible figures in favor of the support price of Rs 1,300 per mind, because he could not confirm his claim that the bread and Nan prices will increase by one rupee, respectively.

Punjab Chief Secretary Yusuf Naseem Khokhar said that the price of wheat is not justified at Rs 1,300 per mind as it would be necessary to provide a lot of grant and also to encourage smuggling, therefore, the price of Rs 1,375 is reasonable.

It was also told to the officials involved in the open market that the prices of wheat in the open market are being seen between Rs 1,390 and Rs 1,430 per mind while the average price of the flour is 790 rupees per 20 kg. Significantly, government agencies in India have procured wheat minimum support price (MSP) of Rs. 1,840 per quintal (100 kg) from the farmers in the crop year 2018-19 (July-June).

At the same time, Indian Food Corporation (FCI) has kept the reserve price of Rs 2,080 per quintal for the sale of wheat under the open market sale scheme (OMMS) in the tender notices issued on August 2, 2019.

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